Pullout from Pacific Rim trade pact leaves US on sidelines

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U.S. President Donald Trump, second right, and Chinese President Xi Jinping, left, attend a bilateral meeting at the Great Hall of the People in Beijing Thursday, Nov. 9, 2017.

U.S. President Donald Trump, second right, and Chinese President Xi Jinping, left, attend a bilateral meeting at the Great Hall of the People in Beijing Thursday, Nov. 9, 2017. (Photo: AP)

DANANG, Vietnam (AP) — President Donald Trump's decision to withdraw from a far-reaching Pacific Rim trade pact is having scant impact on fast-growing trade in the region.

As Trump heads for an annual regional summit in Vietnam, the 11 remaining members of the Trans-Pacific Partnership are working on a new agreement without U.S. A rival trade grouping is gaining ground. And Vietnam is still benefiting from booming trade and investment even without the TPP advantage.

Leaders of the remaining TPP members, representing roughly 13.5 percent of the global economy, are meeting Friday on the sidelines of the Asia Pacific Economic Cooperation summit to seek an agreement in principle that unlike the original accord would not require U.S. involvement. The idea is to forge a free-trade zone akin to the EU in the Asia-Pacific.

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